Being WalletWise means saving your hard-earned money in a way that will meet your needs and achieve your personal goals. It all starts with a good savings plan, which is as important as choosing the right savings account.
The way you save your money is unique to your needs and goals, but sometimes you need a little help on how to start so that you can turn your dreams into a reality.
No matter what you are saving for, having a plan and sticking to it means you won’t have money worries for your next. This could be for your wedding, birthday party or the new addition to the family. Even if you are just saving for a rainy day, here are three easy #WalletWise tips to kick-start your savings and reach your next.
Set a goal
- Before you do anything, decide what you are saving for and how much you need to save.
- Set yourself a time frame to reach the goal.
- Stick to your plan.
Create a budget
- If you are not doing this already, make a list of all your monthly expenses.
- This should be broken down into the things that are essential such as rent, water and electricity, groceries, school fees and so on.
- The longer you stick to your budget, the more it becomes a habit and the more money you can save.
- Saving some money takes a great deal of self-discipline.
- Try treating your savings account as an important bill that needs to be paid every month.
- Set up a scheduled payment transfer to your savings account and stick to it each month.
DO YOU HAVE A PLAN TO SAVE YOUR MONEY?